USA - Israeli Prime Minister Benjamin Netanyahu said in his address to Congress that there would be a nuclear arms race in the Middle East if a deal is signed with Iran. “We must all stand together to stop Iran’s march of conquest, subjugation, and terror,” Netanyahu said to applause. Netanyahu said that Israel is no longer passive in the face of threats to its country and people.
USA - Nobody will be observing the media frenzy surrounding the Israeli Prime Minister Benjamin Netanyahu's speech to the US Congress on Tuesday with more interest, and with perhaps a certain amount of amusement, than the Iranians.
USA - Can you imagine a world where your home, your vehicles, your appliances and every single electronic device that you own is constantly connected to the Internet? This is not some grand vision that is being planned for some day in the future. This is something that is being systematically implemented right now. In 2015, we already have “smart homes”, vehicles that talk to one another, refrigerators that are connected to the Internet, and televisions that spy on us. Our world is becoming increasingly interconnected, and that opens up some wonderful possibilities.
USA - Global Debt Is Almost 3 Times As Big As the World Economy. The Guardian reports that global debt has grown by $57 trillion dollars – to $199 trillion dollars – since the 2008 financial crisis. How much is that? It’s a big number … but what does it actually mean?
GREECE - Greek short-term default risk jumped over 300bps today putting the odds of a restructuring at 50-50 within the next year as the warnings we issued last week with regard Greece's imminent default on its IMF loan loom. Seeking to reassure its lenders (and avoid yet more capital flight), Reuters reports the Greek government said it was "exploring solutions," including delaying payments to suppliers or try to raise up to 3 billion Euros by borrowing from state entities such as pension funds.
UK - Downing Street and the German chancellery are embroiled in a worsening dispute over intelligence-sharing and the covert counter-terrorism campaign because of conflicts arising from the surveillance scandals surrounding the US National Security Agency and Britain’s GCHQ.
VATICAN - The Vatican is on alert in case of an attack by Islamist militants against the city-state or Pope Francis, but officials are not aware of any specific plot, the head of Vatican security said in a rare interview. 'The threat exists. This is what has emerged from conversations with Italian and foreign colleagues,' Domenico Giani told an Italian police magazine when asked if threats from Islamic State militants were credible.
CHINA - China's military budget will rise by about 10% in 2015, an official says. Fu Ying, spokeswoman for China's annual parliament session the National People's Congress (NPC), gave the "rough" figure and said it was in line with overall spending growth.
UK - Read this and you'll never eat a ready meal again: Joanna Blythman spent months probing Britain's convenience food industry. Her findings will turn your stomach.
• More than three billion ready meals were eaten in Britain in 2012
• They make up the biggest sector of the UK's £70 billion a year food budget
• Food manufacturers carry out little or no preparation of raw ingredients
• They buy treated ingredients, mainly frozen or dried, from other companies
• Meat, fish and vegetables are kept at sub-zero temperatures for months
• But when the food is thawed and cooked it can be marketed as 'fresh'
• A ready-meal factory can churn out 250,000 portions a day using 70 different ingredients
UK - Ever since the Cold War ended more than two decades ago, America has never entertained any serious doubts about Britain’s ability to fulfil its commitment as a vital military ally when tackling threats to the Western alliance. Until now. For the dramatic cuts to Britain’s defence budget implemented since the Coalition took power in 2010 have led to a number of senior US military officers and politicians openly questioning whether, when it comes to fighting the wars of the future, Britain has the capability to be an effective ally on the battlefield.
GERMANY - Germany has pledged to raise military spending in coming years, as Berlin seeks to reconcile a commitment to play a more assertive role in global security with a military that is in dire need of overhaul. The spending commitment made by Wolfgang Schäuble, finance minister, in an interview on Sunday follows a decline in German defence expenditure from 1.3 per cent of gross domestic product in 2013 to 1.1 per cent of economic output this year.
GERMANY - German finance minister Wolfgang Schaeuble has softened his hard-line attitude towards Greece, saying its new Left-wing Syriza government needs “a bit of time” but appears to be able to work towards resolving its debt crisis. "The new Greek government has strong public support," Mr Schaeuble told German newspaper Bild am Sonntag.
UK - By design or accident, Germany is the biggest cause of the economic misery and growing political instability which the Euro is causing in the Eurozone. Whereas other countries, particularly in Southern Europe, are culturally less competitive than Germany, sharing a currency has inevitably meant that Germany has the export advantage of a cheap currency where Southern Europe has the disadvantages of too strong a currency. Hence no growth in Italy, pain in Spain and Portugal and disaster in Greece. [Written by Lord Flight. He was Shadow Chief Secretary to the Treasury from 2001-2004.]
ISRAEL - The police “must ensure that Jews can pray on the Temple Mount” - that was the ruling of Judge Malka Aviv in the case of Yehuda Glick vs the Israeli Police. On a number of occasions the police have banned Rabbi Yehuda Glick from ascending up to the Temple Mount.
USA - Tufts University’s Director of the Research and Policy Program at the Global Development and Environment Institute (Timothy Wise) points out:
“There is no … consensus on the safety of GM food. A peer-reviewed study of the research, from peer-reviewed journals, found that about half of the animal-feeding studies conducted in recent years found cause for concern. The other half didn’t, and as the researchers noted, ‘most of these studies have been conducted by biotechnology companies responsible for commercializing these GM plants’.”